Understaffing is one of the serious problems which can destroy an event because it does not become obvious until the very day of the event, by then it might be too late to do anything. Understaffing is a situation where too few members are allocated with more jobs.  The business of event management is so broad, therefore understaffing will be a problem.

Neglecting to research what other local events or laws might affect your gathering is a problem. Broadsword event management is global and what this means is that there are different laws for different countries.  Bad weather is another event problem. Tornadoes and hurricanes have increased in for some years now, so any neglect on weather forecast will be a problem.

Amechi Nwafor LON160922066

·      Broadsword event house manages customer tracking events. It includes ensuring that all buyers are paid on time. They may also handle things like returning rented items or sending messages to the participants. Event and party planning services eliminate consumer stress, making it easier to make the event a success.

·      Broadsword event house complete planning service covers the whole spectrum of the case, including design, development, and logistics. The expert team will ensure full and precise contact between the scheduled events from the specifics to the big decisions. They will turn concepts into a visionary board from their first meeting to create an innovative project that they love and take over budgeting and payment monitoring. Their detailed planning covers provider provision, scouting, and scheduling. It would benefit from their local dealers' expertise to create the best photographers, florists, tents, and DJs for vision.

·      Broadsword event house has event planning tools customised to support third-party planners, companies, 500 luxury planners, lifestyle planners, business planners, and event planners on occasion.

·      This business provides the planning designs conferences, meetings, on-site solutions, tour events, management of room blocks, special events, and event surveys.

·      With just a few tapping and push dragging on the Broadsword event house Platform, one can quickly get the basic event application with your choice and brand-oriented design.

·      The event organiser can personalise the registration permit.

·      Features that make the registration requirements extremely complex. It includes individual options for the registration of individuals, groups, minors, or third parties.

·      Filtrations of the invitations, payments, prices, and donations for the selected niche of the event are well followed.

Siana Kisimova
LON160923029

Broadsword event house has everything to save valuable time by running the events successfully. Broadsword event develops various event software solutions tailor-made for each of its business partners. This online destination offers software solutions such as other event planning applications and designs advanced features to simplify its functionality. Some of the key USP’s are:

·      Broadsword event house offers tools for organising events. For any occasion, users can click and purchase space maps. A complete floor plan can be uploaded to create an automatic event space reservation system for events participating with the static components' addition on the screen. The payment system is also more accessible for event organisers to integrate with the event space.

·      The speaker authorisation module enables the speaker to be redeemed in the app library for the first time. The organiser of the event can then add a speaker for any event that they want. The listeners can upload the file and rate the speaker (Tarman et al., 2019).

·      Broadsword event house has a unique characteristic of volunteers who are willing to assist with event management.

Siana Kisimova
LON160923029

Broadsword’s boast a close knit and collaborative community, the employees are encouraged to bring forth thoughts and ideas, and together as a team they are made in to reality, known for building long lasting reassuring and reliable relations between clients and peers, Broadsword ensure a high quality experience from start to finish. (Broadsword, 2021)

Broadsword have been working closely with Somerset House for a while and in the last few years the directors at have carefully selected a core talented team of 25 to innovatively design and expertly execute projects, Broadsword now fully operates its headquarters from Somerset house, operating a events agency with full services such as design, planning and production. (Clift, 2020)

Another advantage for small businesses is bulls eye marketing also known as Niching, this enables businesses to focus and develop a solutions for specific group of customers, this will more than likely help convince the customers to purchase the provided solution. Broadsword’s expert team worked alongside ITV’s events team to create a spectacular event at the IMAX Waterloo called the Big Think, broadsword were commended by ITV’s project manager for excellent work and even received an award for contributions. (Broadsword, 2021)

Aisha Cole LON160921030

Written communication includes texts, documents, newsletters, reports and emails, although, emails are electronic they are still classed as a written memo, these types of channels are effective when relaying large messages, however, the amount of data humans are able to absorb at one time is limited. 

Multimedia communication includes interactive blogs, company and public web pages and social media platforms, these channels have proved to be very successful, although, can be risky a the same time, in some cases large companies customer files have been hacked and their data stolen.  

Broadsword pretty much use all these channels to advertise and market services, their social platforms include Facebook, twitter, Instagram and blogs, the blogs are kept current and keep people informed about all that’s going on behind the doors of the company, people are able to subscribe to the blogs by just entering an email address, additionally, the Facebook and Instagram accounts are also up to date, Broadsword event house are a company that listens and are willing to hear other thoughts and ideas. (Broadsword, 2021)

Aisha Cole LON160921030

Broadsword Event House is targeting customers anywhere in the world as it has the ability to deliver virtual events. 

However, Broadsword Event House has 3 offices, 1 in London, 1 in Manchester and 1 in Hong Kong

Demographic segmentation: sex, age, and gender

Intended audience: Male/Female Adults from 30 years old and beyond.

Broad target audience: every type of audience more precisely government entities, non-profits, associations, and corporations.

Type of person benefiting the most from the product: Business entities who need to organise a meeting or conference face to face or virtually.

·        Spending habits

·        Purchasing habits

·        Browsing habits

·        Interactions with the brand

·        Loyalty to brand

·        Previous product ratings

For the past four years Broadsword is organising the HSBC’s Global Graduate Induction for over 864 graduates from all over the world. 

Other big names are associated to Broadsword: ITV, New York Times, Kimberly Clark….

Psychographic segmentation: study by personality, values, interests, lifestyle

If their voices are heard and changes are made that push your product from good to great, early adopters will stand behind your company. They will return as consumers time and time again and encourage others to check out your product.

(Broadsword Event House, 2021).

Nilufar Azad
LON170717008

Fixed costs: rent, taxes, interest expenses.

These costs are less likely to fluctuate over time in comparison with variable costs.

Variable costs: direct materials costs, labour costs, marketing expenses.

Most likely, cost structure will change over time and will need to be readjusted from time to time.

Costs Structure for Broadsword Event House are (Beers, 2019).

Room rental

security deposit

insurance coverage

parking

Meals

Beverages

Microphone

Screen projectors

Internet access

Event Rentals:

Linens, Table Skirting, and Chair Covers

Tents, Staging, and Amusement Attractions

Physical Items Not Provided by Venue

Labour and Delivery for Setup/Teardown

Nilufar Azad
LON170717008

Revenue streams are the different sources of activities through which a business earns its revenue (Siddhi K., 2021).

This section is important as it is crucial to monetise the project otherwise it won’t be viable. 

These are ways to reach out to the customers. Broadsword Event House uses online advertising significantly. For example, the company is present on all social media platforms such as Facebook, tweeter, LinkedIn, Instagram… 

Other revenue streams which are used by the company are as followed:

Sponsorship Packages are good strategies to generate revenues between an event organiser and a sponsor. 

Selling Ad space can be done in many forms such as wearing logo t shirts in the event, or brochures, sell ad space on the event website…

VIP, offering VIP tickets is another way of raising funds during the events.

Selling Merchandise can be anything from t shirts, jackets, pens, hoodies with the company’s logo on. It’s an easy way to promote the business and generate extra cash (Nagornyy, 2020).

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LON170717008

Broadsword. (2021). Big Think an inspirational away day. Available: https://www.broadswordeventhouse.com/portfolio/big-think. Last accessed 20th March 2021.

Broadsword. (2021). Blogs. Available: https://www.broadswordeventhouse.com/blog. Last accessed 20th March 2021.

Broadsword. (2021). Brilliant People . Available: https://www.somersethouse.org.uk/venue-hire/venue-hire-news/shout-out-our-sustainable-suppliers-how-they-can-help-your-event. Last accessed 20th March 2021.

Broadsword Event House (2021). Our Work. [Online]. Available from: https://www.broadswordeventhouse.com/ourwork. Accessed 15/03/2021.

Cambridge University Press (2021). Target customer [Online]. Available from: https://dictionary.cambridge.org/dictionary/english/target-customer. Accessed on 15/03/2021.

Eventbrite (2019). 5 Ways to Determine Your Event Audience Using Market Segmentation. [Online]. Available from: https://www.eventbrite.co.uk/blog/segment-your-event-audience-ds0c/. accessed on 17/03/2021.

Kippenberger, T., 2000. Remember the USP? (Unique selling proposition). The Antidote.

Nagornyy V. (2020). Five Real Ways to Generate Revenue With Any Event [Online]. Available from: https://eventstant.com/five-ways-generate-revenue-event/. Accessed on 17/03/2021.

Siddhi K. (2021). What Is A Revenue Stream? – Definition, Types, & Examples. [Online]. Available from: https://www.feedough.com/revenue-stream-definition-types-examples/. Accessed on 15/03/2021.

Surbhi S. (2018). Difference Between Fixed Cost and Variable Cost [Online]. Available from: https://keydifferences.com/difference-between-fixed-cost-and-variable-cost.html. Accessed on 15/03/2021. 

Tarman, H.A., Soleh, S.M., Ari, A. and Rahmat, T.A., 2019. Leveraging brand equity by applying brand communication and forming city branding based on a unique selling proposition (a case of crafts city). Int. J. Bus. Adm. Stud, 5(5), pp.74-83.

Zott, C. and Amit, R., 2010. Business model design: An activity system perspective. Long-range planning, 43(2-3), pp.216-226.